Swedish property company Kungsleden is acquiring a portfolio of Swedish properties worth SEK 1.7 bn (EUR 187 mln), the company announced Thursday. The portfolio consists of 24 properties and six site leaseholds with a total lettable area of around 190,000 m[sup]2[/sup]. The rental value is around SEK 172 mln (EUR 18.9 mln) and the estimated property yield is 6.3%.
Swedish property company Kungsleden is acquiring a portfolio of Swedish properties worth SEK 1.7 bn (EUR 187 mln), the company announced Thursday. The portfolio consists of 24 properties and six site leaseholds with a total lettable area of around 190,000 m2. The rental value is around SEK 172 mln (EUR 18.9 mln) and the estimated property yield is 6.3%.
The properties, which are located in central and southern Sweden, consist mainly of commercial premises (51%), supermarkets operated by the firm ICA (21%), and residential property (28%). Kungsleden is scheduled to take possession of the portfolio on 1 December 2006.
As of 30 September 2006, Kungsleden's property holding comprised 652 properties with a book value of SEK 24.3 bn (EUR 2.7 bn). The company has been listed on the Stockholm Exchange O-list since April 1999.
